The Long & Foster Market Minute

Focus On: Springfield Housing Market September 2021

Zip Code(s): 22151, 22150, 22152 and 22153
Units Sold
149
Active Inventory
127
Median Sale Price
$556,000
Days On Market
18
Up 10%
Vs. Year Ago
Up 63%
Vs. Year Ago
Up 3%
Vs. Year Ago
Up 100%
Vs. Year Ago

Units Sold
There was a decrease in total units sold in September, with 149 sold this month in Springfield Real Estate versus 156 last month, a decrease of 4%. This month's total units sold was higher than at this time last year, an increase of 10% versus September 2020.

Active Inventory
Versus last year, the total number of homes available this month is higher by 49 units or 63%. The total number of active inventory this September was 127 compared to 78 in September 2020. This month's total of 127 is lower than the previous month's total supply of available inventory of 132, a decrease of 4%.

Median Sale Price
Last September, the median sale price for Springfield Homes was $541,000. This September, the median sale price was $556,000, an increase of 3% or $15,000 compared to last year. The current median sold price is 7% lower than in August.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
164
Current Contracts
130
Sold Vs. List Price
100.6%
Months of Supply
0.9
Up 12%
Vs. Year Ago
Up 2%
Vs. Year Ago
Down -1%
Vs. Year Ago
Up 47%
Vs. Year Ago

Months of Supply
In September, there was 0.9 months of supply available in Springfield, compared to 0.6 in September 2020. That is an increase of 48% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 164 homes newly listed for sale in Springfield compared to 147 in September 2020, an increase of 12%. There were 130 current contracts pending sale this September compared to 128 a year ago. The number of current contracts is 2% higher than last September.

Sale Price to List Price Ratio
In September, the average sale price in Springfield was 100.6% of the average list price, which is 1.1% lower than at this time last year.

Days on Market
This month, the average number of days on market was 18, higher than the average last year, which was 9, an increase of 100%.

The Long & Foster Market Minute Springfield are defined as properties listed in zip code/s 22151, 22150, 22152 and 22153.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.